Over the weekend, we had a wide range of "Money Face-Off's" here on Bloggingstocks, and I brought you the face-off between Alan Greenspan and Ben Bernanke. In discussing Greenspan, I noted that one of the main ways a Fed Chief can stay in power for as long as he did was to keep his Presidents happy. Now that Greenspan is no longer under the thumb of President Bush, he obviously feels no such responsibility, and that is made evident in the harsh comments he has on the current President in his book, "The Age of Turbulence: Adventures in a New World," due to be released today.Even though the book was not scheduled to come out until today, the Associated Press got its hands on a copy over the weekend and quickly pointed out that the former Fed Chief has some pretty nasty things to say about our current President, as well as on the future of the economy in his much anticipated memoirs.
In his book, Greenspan said that the greatest frustration he had with President Bush was his consistent unwillingness to veto "out-of-control spending." Let's remember that Greenspan is a well-known Republican, so watching an administration ignore party doctrine and move away from small government principals has to hurt a bit, especially when that government is being led by another member of the Republican party.
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